Job opening remain at record level

 Washington Examiner:

The labor market showed resiliency in April despite the Federal Reserve driving up interest rates in an attempt to stave off inflation .

The number of job openings in April was at 11.4 million, near record levels, according to a report released on Wednesday by the Bureau of Labor Statistics . The previous record number of job openings was notched in March, which was upwardly revised this week to 11.9 million.

The hot numbers come as the Federal Reserve begins jacking up interest rates and tightening its monetary policy to combat blistering inflation. The central bank increased rates by a quarter percentage point in March and then took the even more aggressive step of hiking rates by a half percentage point in May.

The Fed action is designed to slow spending and drive down prices. Some economists have complained that the Fed isn’t moving fast enough and point to hot spots in the economy, such as Wednesday’s report, as evidence.
...

This is good news for a couple of my grandchildren who are just entering the job market.  It is also good news for anyone looking for entry-level jobs.  There appears to be some reluctance on the part of some in returning to work.

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